European nations these days have been in the news for quite some time for their large number of cryptocurrency and blockchain adoptions and collaborations. With crypto friendly moves from Malta and Norway already, now it seems a firm from the Czech Republic want in, in a move that could very well put cryptocurrency adoption on the agenda of Czech authorities.
Pražská Plynárenská, one of the biggest energy companies in the Czech Republic has announced to the public that it has plans to begin allowing cryptocurrency from its clients.
Pražská Plynárenská supplies around 420,000 homes with gas and electricity making them quite a large supplier within the Czech energy economy. Moreover, they also have plans to expand into telecommunications and IT services.
The management stated that the bitcoin payment service should be operational as early as next month. The company is about to join a growing number of Czech businesses processing cryptocurrency payments by introducing them to the energy sector.
This is very exciting. This could give 420,000 new homes access to cryptocurrency. It could in turn encourage bill payers to invest, on the premise that due to the investment potential of Bitcoin, they may get better value for money on their bills.
Pavel Janecek, CEO of Pražská Plynárenská has said:
“In June, we are opening a payment gateway, which will automatically transfer our bitcoin payments into regular currency, so that we don’t have to speculate with cryptocurrency. But if anyone wants to pay in an alternative way, we want to allow them to do that.”
Janecek went on to add that the introduction of bitcoin (BTC) as a payment option will make his company more attractive for the younger generation. This is obviously a priority as the management has also organized rentals of cars running on eco-friendly CNG especially for YouTube vloggers. He restated,
“We are trying to reach out to the young customers, those who buy everything with their mobile phones.”
Last year, Alza.cz begun accepting bitcoin core (BTC) on its platform. The Head of Internet Marketing at Alza.cz, Jan Sadilek stated that the number of orders and the crypto turnover have increased significantly over the past months.
Satoshilabs, the famous cryptocurrency hardware wallet manufacturer, the Trezor is also one of the companies in the country that has been accepting cryptocurrency payments.
In August last year, the Czech National Bank claimed that cryptocurrencies like Bitcoin do not pose a threat to the conventional banking system. A statement posted by the bank entitled “Don’t be afraid of Bitcoin,” argues that fiat currencies are still more suitable for commerce.
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